Dolby Laboratories (NYSE:DLB - Get Free Report) CEO Kevin J. Yeaman sold 2,491 shares of Dolby Laboratories stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $75.00, for a total value of $186,825.00. Following the completion of the transaction, the chief executive officer directly owned 114,725 shares in the company, valued at approximately $8,604,375. This represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Dolby Laboratories Price Performance
DLB traded up $0.66 on Thursday, hitting $75.67. The company had a trading volume of 333,830 shares, compared to its average volume of 450,984. Dolby Laboratories has a 52-week low of $66.35 and a 52-week high of $89.66. The firm has a market capitalization of $7.27 billion, a P/E ratio of 28.56 and a beta of 0.91. The stock has a fifty day simple moving average of $75.16 and a 200-day simple moving average of $77.78.
Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The electronics maker reported $1.34 EPS for the quarter, topping the consensus estimate of $1.29 by $0.05. Dolby Laboratories had a return on equity of 11.48% and a net margin of 19.44%. The firm had revenue of $369.56 million for the quarter, compared to the consensus estimate of $375.44 million. During the same quarter last year, the company earned $1.27 earnings per share. The business's revenue for the quarter was up 1.4% compared to the same quarter last year. Equities research analysts expect that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.
Dolby Laboratories Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Tuesday, May 13th were paid a $0.33 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $1.32 dividend on an annualized basis and a yield of 1.74%. Dolby Laboratories's dividend payout ratio (DPR) is 49.81%.
Hedge Funds Weigh In On Dolby Laboratories
Large investors have recently made changes to their positions in the company. Alpine Bank Wealth Management purchased a new position in shares of Dolby Laboratories in the 1st quarter valued at about $25,000. Cheviot Value Management LLC acquired a new stake in Dolby Laboratories in the 1st quarter valued at $27,000. MAI Capital Management boosted its position in Dolby Laboratories by 87.1% in the 1st quarter. MAI Capital Management now owns 348 shares of the electronics maker's stock valued at $28,000 after buying an additional 162 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Dolby Laboratories during the first quarter worth $29,000. Finally, Global X Japan Co. Ltd. bought a new stake in Dolby Laboratories in the 1st quarter valued at about $51,000. 58.56% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on DLB shares. Tigress Financial assumed coverage on Dolby Laboratories in a research report on Thursday, May 15th. They set a "buy" rating and a $112.00 price objective on the stock. Barrington Research restated an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Friday, May 2nd. Rosenblatt Securities restated a "buy" rating and set a $95.00 target price on shares of Dolby Laboratories in a research note on Friday, June 13th. Finally, Wall Street Zen raised shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a report on Friday, May 30th.
Read Our Latest Report on Dolby Laboratories
Dolby Laboratories Company Profile
(
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Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.
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